Today’s value on Wall Street – Snap escapes decline, subscriber win surprises favorably

(AOF) – The title of Snap, the parent company of the Snapchat messaging service, rose 2.02% to 30.01 dollars in a US market in the red. It won 1.5 million subscribers more than expected in the first quarter. Snapchat saw its number of daily active users increase by 18% to 332 million. The number of active users is an indicator particularly followed by analysts because it will be the source of future growth and results.

The Snapchat messaging service. In the first quarter, the group posted a net loss of $359.6 million, or -22 cents per share, compared with a net loss of $286.9 million, or -19 cents per share, a year earlier. Excluding exceptional items, the loss per share is 2 cents while a symbolic profit of 1 cent was expected by Wall Street.

Its revenues increased by 38% to 1.06 billion dollars, coming out below market expectations: 1.07 billion dollars.

Over the current quarter, revenues are expected to grow by 20% to 25% while the market was aiming for +28%.

“Snap posted strong first quarter results in a challenging environment, but the focus remains on second quarter guidance as macroeconomic headwinds persist and limit visibility,” JPMorgan commented. The consultancy remains at Overweight, but has reduced its price target from $50 to $47.

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